Assessment procedure for banking cash transaction tax requires production of records and imposes time limits and refund duties. The Assessing Officer may require an assessee who filed a return or was served a notice to produce accounts, documents or other evidence and may issue further notices. After considering such material and any other relevant information, the Officer must assess in writing the value of taxable banking transactions and determine tax payable or refundable, subject to a two-year time bar from the end of the relevant financial year. If an assessee receives a refund on assessment, the assessee must, within prescribed time, refund the collected amount to the person from whom it was collected.